JSW Group to set up Rs 700-cr cement unit in West Bengal

The Rs 700-crore cement plant would be ready for commissioning by the end of 2016. “The construction time for the project would be a year,” Sajjan Jindal, Chairman and MD of JSW Steel Ltd, said on Thursday on the sidelines of an event organised by the Bengal Chamber and Commerce and Industry.

The project would be set up on 134 acres of the  4,000 acres of land acquired for its integrated steel project, now delayed. However, the land has to be reassigned to the cement entity replacing the earlier assignment to the steel project. “We expect the reassignment would be completed by the next week,” he said.

Jindal said the reassignment of 100-acre land for a 300-MW captive coal-fired power plant would be done in the next three months. Investment for the power plant would be around Rs 2,000 crore.

These two projects would precede Rs 35,000 crore and 10-million-tonne proposed steel plant. <g data-gr-id="20">Absence</g> of coal and iron ore linkages had stalled the project.

Now, after the new amendments to the Mines and Minerals (Development and Regulation) Act (MMDR Act), JSW Group has decided to bid for iron and coal assets in Odisha and Jharkhand. Jindal indicated that while the group would move to acquire raw material producing assets, the two projects would be set up.